Wealth Enhancement Advisory Services LLC Has $3.07 Million Position in TeraWulf Inc. (NASDAQ:WULF)

Wealth Enhancement Advisory Services LLC increased its position in shares of TeraWulf Inc. (NASDAQ:WULF - Free Report) by 43.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 656,520 shares of the company's stock after acquiring an additional 199,345 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.20% of TeraWulf worth $3,073,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of TeraWulf by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 11,722,320 shares of the company's stock valued at $30,830,000 after purchasing an additional 1,764,115 shares in the last quarter. Point72 Asset Management L.P. bought a new position in TeraWulf in the second quarter valued at approximately $22,443,000. Hood River Capital Management LLC acquired a new position in shares of TeraWulf in the second quarter valued at approximately $20,532,000. Driehaus Capital Management LLC acquired a new position in shares of TeraWulf in the second quarter valued at approximately $9,948,000. Finally, Duquesne Family Office LLC bought a new stake in shares of TeraWulf during the second quarter worth $9,301,000. Institutional investors and hedge funds own 62.49% of the company's stock.

TeraWulf Price Performance

Shares of NASDAQ:WULF traded down $0.32 during midday trading on Friday, hitting $6.20. The stock had a trading volume of 21,453,700 shares, compared to its average volume of 20,792,658. TeraWulf Inc. has a 12 month low of $0.89 and a 12 month high of $7.28. The business's 50-day simple moving average is $4.83 and its 200-day simple moving average is $4.04.

TeraWulf (NASDAQ:WULF - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $35.57 million during the quarter, compared to the consensus estimate of $35.73 million. TeraWulf had a negative net margin of 41.67% and a negative return on equity of 19.77%. On average, research analysts expect that TeraWulf Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WULF. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.00 price objective on shares of TeraWulf in a research report on Tuesday, October 8th. Stifel Canada cut TeraWulf from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price target on shares of TeraWulf in a research note on Thursday, October 3rd. Roth Mkm reissued a "buy" rating and issued a $6.50 price objective on shares of TeraWulf in a research report on Monday, July 8th. Finally, Needham & Company LLC initiated coverage on shares of TeraWulf in a research report on Wednesday, September 4th. They issued a "buy" rating and a $6.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $6.17.

TeraWulf Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.